Event Details

  • Start Date 11/05/2020
  • Start Time 09:00
  • End Date 11/06/2020
  • End Time 17:00
  • Location Online

This fraud training program will focus on understanding the fraud problem and what propels employees to commit fraud. The course will also offer essential fraud detection tools and techniques and highlight best practices for developing and implementing anti-fraud controls.

To effectively protect against employee fraud, it is first necessary to determine who in your organization is likeliest to be a perpetrator and why. With that knowledge, you can begin to understand what fraud fighters commonly refer to as “behavioral indicator” of potential fraud.

Beyond that, however, it is essential to gain the skills for assessing your organization’s risk of being a victim of the large and continuously expanding variety of employee-perpetrated frauds. Only then can you begin to build audit plans designed to identify the red flags of these offenses and, if found, examine clues that may point to the existence of actual fraud.

The ultimate goal of all of this, of course, is to lay the groundwork for pinpointing and then remediating internal control deficiencies that provide the opportunities for dishonest employees to engage in fraudulent activity.

This special training will touch on all these critical areas, using carefully selected case studies to help illustrate the essential takeaways from the training

Before the advancements in technology, bank robberies were just the only security threat that banks faced. Now, bank security and fraud personnel must contend with a litany of new fraud issues which has come with technology, such as:

  • Credit card fraud
  • Internet security and fraud
  • Check fraud
  • Identity theft and fraud information system breaches
  • Deposit fraud
  • New account fraud
  • Pfishing

Most fraudulent activity can be caught by putting effective internal processes and procedures in place to minimize the chances for illegal behavior. But don’t forget one of the best sources of fraud prevention: your employees.

In order to detect and prevent fraud, employees must first know what to look for, and then what to do about it.

Employee fraud can take place in many ways, but by far the most common involves accounting, accounts payable, and payroll functions. In order to commit fraud, it helps to have access to money and accounts. Employees who submit expenses reports are also prime sources of fraud, especially if your internal controls are weak.

So let’s start with the basics. Train your employees so they understand company policies and procedures. Make sure they know and follow all rules and guidelines. And make sure they understand the repercussions of committing a fraud – up to and including criminal prosecution.

After an internal company review, put the following processes in place and train employees to follow these processes. Internal training should include:

Create separate duties with checks and balances built in. Require multiple approvals for expenditures. Have multiple employees keep the books, handle payroll, make deposits, and reconcile bank statements.

Cross-train employees to perform basic financial functions. Relying on one person to handle a financial process makes it easier for that person to commit fraud.

Train employees to perform basic internal audits – outside of their normal work area. Oversight is a great deterrent.

Then focus on training employees to identify external sources of fraud, including identity theft. (Not only is doing so a good practice to help protect your business and your customers, but creating procedures to stop identity theft is the law.

Teach employees to watch for:

  • New account fraud – setting up accounts based on stolen identity or personal information
  • Credit card fraud – using credit cards without authorization
  • Check fraud – using checks without authorization, or using fake checks
  • Phishing – fraudulent attempts to get personal or company information that can be used to perpetrate identity theft
  • Identity theft – using another individual’s personal or financial information without his or her consent
  • Invoicing for products or services that were never provided
  • Invoicing for over-utilization of services (i.e. billing for unneeded services; the services were performed but were not needed or requested)
  • Kickbacks

The key to providing effective training is to first determine what policies and procedures you wish to put in place. If you run a retail operation and you wish to prevent identity theft, for example, you may decide employees should verify two forms of identification before accepting checks or credit cards. If that is your policy, train your employees and monitor that they, in fact, consistently follow the policy. The same is true for internal controls; if you decide one employee should verify the accuracy of incoming shipments at the receiving dock, and another employee should double-check the accuracy of items received before placing them into inventory, train employees appropriately and then check periodically to make sure your policies are being followed.

Then establish set procedures for what employees should do if they suspect internal or external fraud. Your procedures for handling external fraud can be straightforward and should not require significant judgment on the part of the employee. For example, if a cashier suspects that a customer is attempting to use a stolen credit card, they should immediately notify a member of management before proceeding further.

With internal fraud, the actions taken may not be so clear-cut. Many employees will hesitate to accuse others of illegal or unethical behavior; create a climate of trust by establishing a confidential way for employees to share their concerns. Confidentiality protects the whistle-blower and the alleged perpetrator; if the accusations are unfounded, no one needs to know there were ever suspicions in the first place.

To prevent fraud, thoroughly train your employees, and then follow up to make sure that training is consistently put into practice.

 Why Should You Attend?

Organizations of all kinds and sizes are increasingly threatened by employee fraud. In fact, employee fraud represents the majority of all fraud threatening organizations.

Embezzlement, kickbacks, check fraud, financial statement fraud and vendor billing schemes are just a few of the countless economic crimes committed by employees and outsiders. And with the march of technology, new computer and Internet-driven schemes are being deployed by dishonest insiders all the time.

This training will provide attendees with a strong foundation of practical knowledge about how common frauds are committed, how to detect the red flags of these crimes and how to eliminate control deficiencies that provide opportunities for dishonest employees.

Learning Objectives:

Understand the fraud problem

  • Why employees commit fraud
  • Essential fraud detection tools and techniques
  • Software tools for auditing for fraud
  • Best practices for developing and implementing anti-fraud controls
  • Identify the red flags of fraud
  • How to detect and investigate fraud
  • Building an anti-fraud control environment
  • Areas Covered in the Webinar:


  • Statistical overview of the fraud problem
  • Who commits fraud
  • Why employees commit fraud (the fraud triangle)
  • Lessons from fraudsters
  • Common types of internal fraud today

Red Flags of Fraud

  • Conducting a fraud risk assessment and recognizing the red flags of internal fraud
  • The fraud risk mitigation cycle
  • Implementing an organization-wide system for detecting, preventing and investigating fraud

Fraud Detection

  • Fraud detection
  • How frauds are most often detected
  • Additional general detection methods
  • Data mining/analytics for fraud detection
  • Examples of fraud audit techniques at work

Anti-Fraud Controls

  • Internal controls and other fraud prevention measures
  • Who should manage anti-fraud activities
  • Internal controls: dos and don’ts
  • Best practices in anti-fraud controls
  • General controls: Segregation of duties, delegation of authority, background investigation
  • Specific operations-level controls major fraud categories

Who Will Benefit:

  • Internal and external audit professionals
  • Internal control professionals
  • Bank managers
  • Finance and accounting management
  • Compliance and ethics professionals
  • Loss prevention and risk specialists
  • Security professionals
  • Fraud examiners
  • Procurement and payables specialists

Participation Fees

  • $400 an Individual
  • $1000 an Institutional  (two participants)
  • $4000 an Institutional (Five particpants)
  • $6000 an Institional (Eight Participants)
  • $7000 an Institutional ( Ten Particpants)
  • $10,000 an Institutional (Fifteen Participatnts)